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Goodnight Midstream closes capital investment deal with Tailwater Capital

Goodnight Midstream LLC completed a capital investment deal of more than $500 million with private equity firm Tailwater Capital LLC.

The investment will support the multibillion-dollar expansion projects of the produced water disposal specialist, according to an Oct. 8 news release from the Dallas-based company.

Since Tailwater's first investment in 2016, the firm has expanded its Bakken operations and entered the Delaware Basin, Midland Basin and Eagle Ford Shale.

Goodnight Midstream has 500 miles of produced water pipelines with 1.6 million barrels per day of throughput capacity, including more than 700,000 bbl/d of throughput capacity in the Delaware Basin.

In September, TPG Capital Management LP terminated an agreement to acquire a majority stake in Goodnight Midstream from Tailwater after the midstream firm failed to meet closing conditions.